Low Dosage Hydrate Inhibitors Market Volume Forecast and Value Chain Analysis 2016-2026
Low dosage hydrate inhibitors are the products used to inhibit the formation of gas hydrates in offshore hydrocarbon drilling and production operations. Gas hydrates are basically ice-like solids that are formed by combination of water and natural gas at high pressure and low temperature. Gas hydrates create severe flow problems in oil and gas drilling and production operations. It, thus, becomes very important to remove and prevent the formation of these gas hydrates in order to have efficient flow of hydrocarbons.
Various technologies have been developed and used over the time to prevent the gas hydrates formation, such as: environmental inhibitor, thermodynamic inhibitor and low dosage hydrate inhibitors. Developed in 1990s, low dosage hydrate inhibitor is comparatively a recent technology developed as an alternative to thermodynamic inhibitors for avoiding gas hydrates from creating any flow related problem.
There are several advantages of low dosage hydrate inhibitor. They are given below:
- Low Dosage
- Lower Capital Costs
- Lower Chemical Costs
- Lower Transportation Costs
- Lower Storage Costs
- Smaller Pumps
- Less Maintenance
- Effective at Severe Conditions
- Effective During Extended Shut
- Total System Approach to Ensure Products are Total System Approach to Ensure Products are Compatible with Production System Compatible with Production System
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Rising consumption of crude oil has led the global companies to produce more oil. Low production costs has become a necessity of market players in order to increase their profit margins. Utilization of low dosage hydrate inhibitor, because of so many advantages, is very facilitative for market players that leads to increased profit margins. Because of so many advantages and growing consumption of oil, low dosage hydrate inhibitor market is expected to boost up over the period of 2015-2025.
Drivers and Restraints
High consumption of crude oil all over the world is leading the market players to produce more crude oil. For cost effective and continuous production of crude oil, use of low dosage hydrate inhibitor has become a very important prospect of complete oil drilling and production process.
Population growth and industrialization are the major microeconomic drivers for this market. Growing population and rapid industrialization create huge demand for energy. Growing energy demand leads to higher production of oil which, in turn, leads to the growth of low dosage hydrate inhibitors.
Market Segmentation
The global low dosage hydrate inhibitor market is basically segmented on the basis of type.
On the basis of type, the low dosage hydrate inhibitor market is segmented as the following:
- Anti-Agglomerate (AA) inhibitors
- Kinetic Hydrate Inhibitors (KHI)
Anti-Agglomerate Inhibitors: These inhibitors keep the hydrates in a slurry and prevent them from adhering to each other.
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Kinetic Hydrate Inhibitors: These type of inhibitors prevent the formation of hydrates for a longer period of time or hold them still for that period.
The production process of low dosage hydrate inhibitor is technologically well advanced and innovation in the use of these products is on-going. With their highly foreseen benefits, low dosage hydrate inhibitors ensure a great scope of application in the oil and gas industry.
Regional Outlook
Global low dosage hydrate inhibitors market is segmented into seven main regions, which are North America, Latin America, Middle East & Africa, Western Europe, Eastern Europe, Asia Pacific and Japan. North America and Middle East and Africa are the prime regions in the global low dosage hydrate inhibitor market. Additionally, significant growth is expected in North America for these products over the period of 2015-2025.
Market Players
Ashland, Halliburton and NALCO (ECOLAB COMPANY) etc. are the major players in the global low dosage hydrate inhibitors market.